18:49
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Simple English definitions for legal terms
sole and unconditional owner
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A quick definition of sole and unconditional owner:
A sole and unconditional owner is someone who has complete control over something. They have the right to use it, keep it, and sell it without any restrictions or limitations. This person is the primary owner of the property and has the ultimate ownership of it. They can do whatever they want with it, and no one else has any say in how it is used or managed.
A more thorough explanation:
A sole and unconditional owner is a person who has complete ownership of something and has the right to possess, use, and transfer it without any restrictions or conditions.
For example, if John buys a car with his own money and is the only person listed on the title, he is the sole and unconditional owner of the car. He can use it as he pleases, sell it, or give it away without needing anyone else's permission.
In insurance, the sole and unconditional owner is the person who has full ownership and control over the insured property. For instance, if Jane buys a house and pays for the insurance policy, she is the sole and unconditional owner of the policy and can make any changes or claims related to it.